The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-10
THE STATE OF TRADE.
X. q. Dun 4 Co.'s Report Of Com.
merce and Industry.
RRect Of the II. ava o. deal ON the
stock Market - Business
Failures.

Nsw YORK, September Or. q.
Dan 4 Co., In their weekly report Of
trade, say:
Commerce and industry have i'm.
proved, while speculation has slack
ened. A very different result was ex.
pected when IL was announced week
ago that a syndicate had undertaken
10 raise sl0,000,000 for the Baltimore
and Ohio, and to establish harmony
between trunk lines. At frs! stocks
rose quickly an average Of 81 per
share, bat soon II was seen that the
borrowing oil millions by 9 great com.
psny did not necessarily mean or
bring prosperity. Heavy declines In
Baltimore and Ohio and other stocks
affected by the Ives failure followed,
aud q gradual reaction toward 10 wer
prices and speculative inactivity has
continued this week. On the other
hand, evidence appears Of decided
improvement In legitimate business,
with larger Gales, larger production
and more wholesome feeling, even
In branches lately most depressed.
The Improvement in the wool trade
Is clearly marked, though the trade
cannot yet be called active. Lower
prices for wool encourage man uiact-
urers and the demand for goods Is
broadening.
Distribution Of cottons continues
large, with especial demand for the
best qualities, and manufacture Ia 70.
lieved from fear OF speculative corners
In material, the new crop being un.
doubleday large one, though below
early estimates.
Iron furnaces OF 1875, 1877 tons oapac.
ity we're In blast September 1st, the
largest output yet reported; the In
cieaee since year ago is IA per cent.
Dish, artenment = some quarters lest
an output far surprising the conBump-
tive demand should depress prices Is
met by the TACT that the best grades
are scarce and we'll maintained,
thosgh In other giadts and brands
not Sell known weakness appears.
The mills In which iron is worked
into forms for use are generally
pressed with orders; bar iron has q
good demand, the orders for sheet,
plate aud tank iron press works
TO their full capacity, makers
oil structural iron are work
crowded, and the nail business
10 slightly better. In steel rails,
though even the Thomas Company
sells at $50 for winter delivery, and
they cling 10 prices tina. dishearten
some makere, there Ia a general dlspo.
sitlon 10 shut out foreign products,
and facilities for producing at lower
cost are steadily increasing.
Wheat speculation seems 10 have
gone into bankruptcy, stsgnation
ruling In spite OF the reduction Of
Liverpool freight rates 10 lid. The
price has lifted only ic the past week,
while corn and oats have rlpeu 10,
pork 25c per barrel and lard l0c per
100 pounds.
Oh has advanced &c In belief that
producers will succeed In limiting the
supply.
Sugar shows q tendency 10 boom,
having risen Is cents per 100 pounds,
while coffee 10 Q weaker, high rates
Tor money affecting Brazil holders.
Copper is weaker with the opening
Of the Calumet and heavy shipments
from the West.
Large offerings OF tea at auction 70.
suited In moderate prices, and the
rice market Ia improving In activity.
Supplies Of butter are very liberal.
and prices Tor grades under extra are
irregular.
Evidence Of general improvement
Gomez from nearly all ciliea. Remark.
able heavy distribution OF hardware
and farmers supplies al Chicago and
st. Louis. with activity Of bankp, no,
from speculative demands, and repor,s
Of formidable increase in shipmen,s
by the railroads from this city, prom
lses factory returns OF fall trade.
Money Ia generally active at interior
points, aud collections fair. The
large supply ol money from Enrops
already received clear Of the loant
which have tied up home capital, and
thua promise much relief. Failure,
at NeE Haven and Philadelphia have
involved anne minor houses, but dc
not indicate especial weakness in any
special branch Of trade. For the
present the signs favor large and
profitable fall business, unless none
tAry stringency ehould Interrupt.
The business failures duIing the
last seven days number for the United
States 1862, Tor CauadA 20; total Of IN
compared with 100 last week, and III
In the aamn NenL II LAT xnAr